Guideline Value for Thangal 6th Street

Thangal 6th Street guideline value

The current guideline value of Thangal 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thangal 6th Street has changed

The guideline value for Thangal 6th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 259 per sq.ft. This amount increased to Rs 287 per sq.ft in 2003, marking an increase of approximately 11%. The value saw a significant rise to Rs 750 per sq.ft in 2007, which was a 161% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 300% increase. However, between 2017 and 2023, the guideline value was Rs 2,010 per sq.ft, which was a decrease of 33% from the previous figure.

In the latest revision for 2024, the guideline value has been set at Rs 3,300 per sq.ft, representing a 10% increase from the 2023 figure of Rs 3,000 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1174%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that Thangal 6th Street's 2024 figure is below this median.

• Thangal 5th Street: Rs 3,300 per sq.ft (2024)
• Thangal 7th Street: Rs 3,300 per sq.ft (2024)
• Thangal 4th Street: Rs 3,300 per sq.ft (2024)
• Thangal 8th Street: Rs 3,300 per sq.ft (2024)
• Thangal 3rd Street: Rs 3,300 per sq.ft (2024)
• Thangal 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangal 6th Street?

The Thangal 6th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Virugambakkam

The guideline value plays a crucial role in property transactions in Virugambakkam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

Additionally, the guideline value serves as a reference point for both buyers and sellers during negotiations. It helps in establishing a fair price for the property based on the prevailing rates in the area.

Frequently asked questions

What is the current guideline value of Thangal 6th Street?

The current guideline value of Thangal 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 259 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1174%.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, which is higher than the guideline value of Thangal 6th Street.

What are the stamp duty and registration fees for properties in Thangal 6th Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Thangal 6th Street?

The Virugambakkam Sub Registrar Office handles registrations for Thangal 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.